Polaris Q3 Profit Beats Estimates

Polaris Inc. (PII) reported that its third quarter adjusted EPS from continuing operations increased to $3.25 from $1.98, prior year. On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $2.82, for the quarter. Analysts' estimates typically exclude special items.

As reported, third quarter net income from continuing operations attributable to Polaris was $190 million increased 63 percent. Earnings per share from continuing operations was $3.17, up 69 percent.

Worldwide sales were $2.34 billion, up 32 percent from a year ago. Analysts on average had estimated $2.20 billion in revenue.

The company now expects 2022 sales to increase 15 percent to 16 percent versus prior guidance of 13 percent to 16 percent. The company expects adjusted EPS from continuing operations attributed to Polaris shareholders to be in the range of $10.10 to $10.30,
unchanged from prior guidance.

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